Scribd
Upload
56 views6 pages

Shahin Accounts 2010 2011

- The document is a summary trial balance for AL MASHREQ TRADING AND CONTRACTING CO. as of March 31, 2011 that shows the company's assets, liabilities, equity, income and expenses for the period from April 1, 2010 to March 31, 2011. - The company's total assets were $22,960,687 and total liabilities were $19,426,928, resulting in equity of $3,533,759. - Major revenue items included machinery and equipment sales of $27,426,170, while expenses included salaries of $1,428,703 and depreciation of $754,775. The net margin for the year was a loss of $

Uploaded by

TANIM300
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
56 views6 pages

Shahin Accounts 2010 2011

- The document is a summary trial balance for AL MASHREQ TRADING AND CONTRACTING CO. as of March 31, 2011 that shows the company's assets, liabilities, equity, income and expenses for the period from April 1, 2010 to March 31, 2011. - The company's total assets were $22,960,687 and total liabilities were $19,426,928, resulting in equity of $3,533,759. - Major revenue items included machinery and equipment sales of $27,426,170, while expenses included salaries of $1,428,703 and depreciation of $754,775. The net margin for the year was a loss of $

Uploaded by

TANIM300
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
You are on page 1/ 6

AL MASHREQ TRADING AND CONTRACTING CO.

SUMMARY TRIAL BALANCE AS ON 31/3/2011


( From 1st April-2010 to 31 March-2011 )

General Ledger Accounts Descriptions DR Opening Transactions Closing


(CR ) Balances 2010-2011 Balances

FIXED ASSETS :

Land and Building A 1,593,470.00 - 1,593,470.00


Machinery and Equipment A 1,160,280.00 27,950.00 1,188,230.00
Furniture and Fixtures A 97,036.00 6,257.00 103,293.00
Motors Vehicles A 425,080.00 - 425,080.00
Computers/ Software A 65,379.00 3,275.00 68,654.00
others A 52,670.00 - 52,670.00

ACCOUNTS RECEIVABLES/ PRE-PAYMENTS :

Trade Receivables A 4,316,814.00 1,126,780.00 5,443,594.00


Other Receivables A 188,995.00 12,789.00 201,784.00
Employees' Balance A 26,852.00 12,579.00 39,431.00
Pre-paid Insurances A 33,300.00 17,596.00 50,896.00
Other Pre-payments A 9,989.00 13,750.00 23,739.00

INVENTORIES :

Machineries and Equipment A 7,657,479.00 2,175,600.00 9,833,079.00


Replacement Parts / Equipment A 1,052,358.00 276,500.00 1,328,858.00
Other Products/ Consumables A 338,368.00 15,789.00 354,157.00
-
CASH AND BANK BALANCES :

Cash in hand A 38,577.00 175,230.00 213,807.00


Balances in Banks A 1,603,745.00 436,200.00 2,039,945.00

Total Assets 18,660,392.00 4,300,295.00 22,960,687.00

ACCUMULATED DEPRECIATION:

On Land and Building L (913,415.00) (119,510.00) (1,032,925.00)


On Machinery and Equipment L (524,287.00) (118,823.00) (643,110.00)
On Furniture and Fixtures L (59,164.00) (10,329.00) (69,493.00)
On Motors Vehicles L (276,000.00) (106,270.00) (382,270.00)
On Computers/ Software L (47,881.00) (5,149.00) (53,030.00)
On others L (22,670.00) (5,267.00) (27,937.00)
ACCOUNTS PAYABLES & CREDIT BALANCES:

Trade Accounts payables L (1,292,899.00) 32,579.00 (1,260,320.00)


Other Payables L (369,371.00) 152,793.00 (216,578.00)
Employees' End- of Service Benefits L (414,871.00) (87,546.00) (502,417.00)
Accrued Expenses L (275,418.00) (51,793.00) (327,211.00)

BANK LOANS AND OVERDRAFTS L (4,036,539.00) (447,221.00) (4,483,760.00)

CAPITAL AND EQUITY:

Paid up Capital L (5,000,000.00) (5,000,000.00)


Compulsory Reserve L (1,410,126.00) (1,410,126.00)
Retained Earnings L (4,017,751.00) (4,017,751.00)

Total Liabilities (18,660,392.00) (766,536.00) (19,426,928.00)

SALES :

Machineries & Equipment I (27,426,170.00) (27,426,170.00)


Replacement Parts & Equipment I (7,826,545.00) (7,826,545.00)
Other Products and Consumables I (2,087,465.00) (2,087,465.00)
Sales Discount E 748,956.00 748,956.00
(36,591,224.00) (36,591,224.00)

COST OF SALE:
Machineries & Equipment C 21,460,978.00 21,460,978.00
Replacement Parts & Equipment C 6,357,502.00 6,357,502.00
Other Products and Consumables C 1,550,151.00 1,550,151.00
Purchase Discount I (588,234.00) (588,234.00)
28,780,397.00 28,780,397.00

EXPENSES:
Salaries & Wages E 1,428,703.00 1,428,703.00
House Allowances E 249,068.00 249,068.00
Transport Allowances E 85,852.00 85,852.00
Air Tickets E 61,469.00 61,469.00
Leave Pay E 236,034.00 236,034.00
Overtime Pay E 28,043.00 28,043.00
Other Allowances E 54,891.00 54,891.00
Employees End of Service Benefits E 94,844.00 94,844.00
Printing & Stationery E 38,514.00 38,514.00
Electricity & Water E 88,999.00 88,999.00
Fuel and Power E 28,514.00 28,514.00
Repair / Maintenance & Renovations E 95,340.00 95,340.00
Communication Expenses E 42,734.00 42,734.00
Advertisement & Publicity E 152,078.00 152,078.00
Products Promotion E 56,052.00 56,052.00
Travelling Expenses & Airfare E 29,079.00 29,079.00
Entertainment E 17,044.00 17,044.00
Bank Charges E 27,356.00 27,356.00
Bank Interest E 669,996.00 669,996.00
Depreciation E 365,348.00 754,775.00
Other expenses E 37,683.00 37,683.00
4,277,068.00
NET MARGIN FOR THE YEAR R (3,533,759.00)

NOTES:

1. 25% of the current Net Margin to be transferred to Compulsory Reserve.


2. The balance of the Net Margin to be transferred to Retained Earnings,
3. A= ASSETS, L= LIABILITIES, C= COST OF GOODS SOLD, E= EXPENSES & R= RETAINED
EARNINGS, I= INCOME.

4. Purchase Discount to be deducted from COST OF SALES and Sales Discount


from SALES.
22,960,687.00
(19,426,928.00)
3,533,759.00
(3,533,759.00)

(7,810,827.00)
T EXP. 4,277,068.00

NM (3,533,759.00)

You might also like